Midbox scheme for Havant

By Liza Helps Property Editor

THE INVESTOR has paid £5.13 million for the site from the administrators of HVAC equipment manufacturer Dunham-Bush for £5.13m.

The strategic acquisition paves the way for the demolition of the 106,923 ft2 former manufacturing facility and the development of three Grade A industrial units, providing 104,320 ft2 of lettable floor area. The new development will be targeting EPC A+ and BREEAM Outstanding.

Havant is one of the South Coast’s core logistics locations, benefitting from excellent connectivity via road and rail. Strategically located at the intersection of M27, A27, and A3, the area allows occupiers to service markets across Hampshire, Surrey, and West Sussex. The region hosts a robust base of occupants including national distribution, last-mile logistics, advanced manufacturing, and naval/maritime industries.

Savills advised the administrator.

The deal was part of a series of transactions in the industrial and logistics sector worth more than £350m by Royal London Asset Management. These also included the sale of 33.6 acres of industrial and logistics assets in Southall, West London, and the leasing of 36,000 ft2 of warehousing space to a schools and colleges  educational supplier at Springfield Business Park in Chelmsford on a 10-year lease. The final two units at Springfield Business Park were developed by Royal London Asset Management Property in 2023. The units have been rated BREEAM ‘Excellent’, EPC A and are provided with PV panels, EV charging points and bike storage. The GDV of the scheme is estimated at £30m.